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Insights from CPO Rising 2019: #ValueExpansion
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In contrast to direct procurement, indirect spend includes everything that goes into running a business that isn’t directly tied to the end product, such as maintenance, repairs, and operations (MRO), marketing, facilities, consumables, fleet, freight, travel and IT. Although it can make up as much as 50% of a company’s total purchases, it doesn’t often get the attention it should. The problem with ignoring indirect spend, however, is that you could be missing out on...
Recently we surveyed our community asking what type of content you want to learn about and the top response was news from the local startup community. That’s why we’re excited to begin sharing more happenings from in and around Detroit, starting with a new funding announcement from Madison Heights-based startup, Xeeva.
No matter the industry, managing spending is always a fundamental focus for any executive team, and nothing impacts spend as much as variation in the purchase price of goods and services. Purchase price variance (PPV) is one of the key metrics – arguably the most important metric – used by procurement teams to measure the variation in the price of purchased goods and services. It is a prime measure of how effective the procurement team...